First Quantum Minerals Surpasses Q4 Estimates with $99 Million Profit
TORONTO, ON - First Quantum Minerals Ltd. (FQVLF) reported a fourth-quarter profit of $99 million, exceeding Wall Street expectations. Earnings per share were 12 cents, or 4 cents after adjusting for non-recurring gains, surpassing the consensus estimate of breakeven.
Revenue reached $1.26 billion for the quarter, also beating analyst forecasts of $1.15 billion. For the full year, the company reported a profit of $2 million on revenue of $4.8 billion.
"First Quantum's strong Q4 results reflect the company's continued focus on operational efficiency and cost control," said CEO Tristan Pascall. "We are well-positioned to navigate the current market volatility and maintain our position as a leader in the mining industry."
First Quantum Minerals is a global producer of copper, gold, and other metals. The company operates mines in Zambia, Panama, Turkey, and Mauritania.